Ex-Citigroup VP Charged With Embezzling $19.2M

Former Citigroup vice president Gary Foster has been charged with embezzling more than $19 million from the company. Foster, 35, was nabbed yesterday at JFK airport in New York, after arriving on a flight from Bangkok, Reuters reports. Prosecutors say that between May 2009 and December 2010, Foster funneled the money from Citi’s debt-adjustment and income-expense accounts into his personal JPMorgan account, using fake contract and deal numbers to hide the transactions.

Citi didn’t notice the theft until a recent audit. When investigators found it, they immediately alerted the FBI. A spokesman says the bank is “outraged,” and “cooperating fully to ensure Mr. Foster is prosecuted to the full extent of the law.”